Re:Tax hike on California millionaires would create 54% tax ...
by nickff on Friday July 31, 2020 @01:17PM
(#24010926)
That's not how people vote in elections.[1]
In reality, some people will probably leave, and the rest will likely avoid the increase by receiving the income via lower-rate methods. It seems likely that CA is past the peak of the Laffer curve, and will lose tax revenue.[2]
In reality, some people will probably leave, and the rest will likely avoid the increase by receiving the income via lower-rate methods. It seems likely that CA is past the peak of the Laffer curve, and will lose tax revenue.[2]
[1] https://en.wikipedia.org/wiki/The_Myth_of_the_Rational_Voter
[2] https://en.wikipedia.org/wiki/Laffer_curve